OPEC+ supply outlook, demand slowdown and geopolitics to be in focus at APPEC

Quick Summary:

OIL markets have been on a roller coaster ride recently and delegates at APPEC (Asia Pacific Petroleum Conference) would seek to gain insights on whether mounting geopolitical tensions can overshadow concerns around slowing demand as well as rising supplies, to keep prices supported.

Commodity Insights expects supply balances to remain tight in the third quarter, while they will gradually start to loosen starting the fourth quarter and the surplus will grow in 2025.

As a result, Commodity Insights has raised the price forecast for Platts Dated Brent for H2 2024 by $1/b to 84/b, while cutting the forecast for 2025 by $2/b to $79/b.

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Article Details

Author / Journalist: Sambit Mohanty

Category: EconomyBusiness

Markets: MalaysiaChinaMaliSaudi ArabiaSingapore

Topics: Brent OPEC Sambit Mohanty /Business/Business News APPEC Energy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 14:50:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 737 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22372776

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